A year ago American Banker named
Just about all of them made headlines, took bold steps or had successful years though sometimes not for the reasons we anticipated.
(For full Countdown 2014 coverage,
Some bought other banks, rebranded or repositioned their companies for the future as we anticipated. Others stepped down from their jobs, or made headlines by failing to do enough in the eyes of critics. The biggest accomplishment for still others was to stay under the radar and do the hard, everyday work that needed to be done.
Let this look back serve as a reminder for those who think they have their plans for 2014 all sewn up.
Michael Corbat, Citigroup
The Citigroup (NYSE: C) chief executive avoided making waves, and let's be clear: given the coverage JPMorgan Chase (JPM) and its CEO, Jamie Dimon, received this year, and the darts Citi took for several years, a low profile should be viewed as an accomplishment.
Corbat
"Nearly all prior issues that kept us on the sidelines have been addressed," Andrew Marquardt, an analyst at Evercore wrote in a mid-December note to clients advising them to considering buying Citi shares. "We have an upward bias to the U.S. economic recovery which could fuel better results."
Ellen Alemany, RBC Citizens Financial Group, and Michael Tierney, Flagstar Bancorp
Alemany and Tierney made headlines by leaving their CEO posts this year.
Tierney stepped down at Flagstar (FBC) in May, returning to his prior position as the Troy, Mich., company's head of personal financial services. It was a tough year for Flagstar, which has been looking to move beyond legacy mortgage issues.
Flagstar agreed to pay nearly $200 million to settle legal claims, and it agreed earlier this month to sell nearly $41 billion of mortgage-servicing rights. But the company remained profitable throughout the year.
Alemany, who retired in October, later received a lifetime achievement award at American Banker's gala celebrating the most powerful women in banking and finance. "We must continue to engage with our regulators" on how the Dodd-Frank Act is applied, she
Peyton Patterson, Bankwell Financial
Patterson, another one of American Banker's
Patterson has
"There's no shortage of things to do," Patterson told American Banker in June. "We have a clear organic growth map that also layers in acquisitions that are in the right markets and the right price."
Jay Hooley, State Street
Hooley had a rather quiet year at State Street (STT), though he was able to ward off rumored efforts by several large investors to remove him as the Boston company's chief executive. By the fall, he was among the bank CEOs meeting with President Obama as Washington deadlocked over the budget and raising the debt ceiling.
Masashi Oka, Bank of Tokyo-Mitsubishi UFJ
Oka, chief executive for the Americas for Bank of Tokyo-Mitsubishi UFJ, helped raise the stature of his company this year.
In July,
Kevin Cummings, Investors Bancorp
Acquisitions also played a big role for Kevin Cummings at Investors Bancorp (ISBC) in Short Hills, N.J., though regulatory snags with one of those deals might have put a
Cummings had planned on a second-step conversion for Investors but the $15.5 billion-asset company had to wrap up two acquisitions first. Its purchase of Roma Financial, originally expected to close in the second quarter,
Investors, which also has a pending deal for Gateway Community Financial, finally received Fed approval to buy Roma, closing the transaction in December.
Cummings finally was in a position to disclose plans for a second-step conversion in late December, though it now seems as though the move, which could bring in $1.5 billion in capital, will take place in 2014.
Kessel Stelling, Synovus Financial
Synovus (SNV), led by Stelling,
Dan Rollins, BancorpSouth
There were no bank deals for Rollins, who left the acquisition-minded Prosperity Bancshares (PB) in Texas to become the CEO of BancorpSouth (BXS) in Tupelo, Miss. Rollins, known as a proponent of cost controls, spent much of 2013 scouting out efficiencies and fielding calls from analysts to cut more expenses.
"If you're looking for some magic pixie dust that is going to [improve efficiency] quickly, I don't think that is the way it works," Rollins told analysts
Tim Laney, National Bank Holdings
Those who expected Laney and National Bank Holdings (NBHC) in Greenwood Village, Colo., to go on an acquisition spree in 2013 were severely disappointed.
Laney instead adhered to the conservative vision he shared
That meant capital management without flashy deals. The $5.2 billion-asset company announced plans to close 36 branches in California, and it
We'll resist the temptation of putting Laney on our list for 2014, but it does go to show that all of the executives ultimately have to be evaluated over track records of more than a single year.